Denmark-based challenger bank Lunar Way has selected Temenos‘ Financial Crime Mitigation solution to provide a secure digital customer experience.

The solution will provide solutions across watch-list screening, AML, fraud prevention, and KYC. According to the supplier, the challenger bank will implement FCM modules including Profile, Screen, KnowCustomerPlus and Suspicious Activity Prevention for adhering to the regulatory requirements for financial crime prevention. The modules will be implemented in Lunar Way’s core banking and payments architecture and allow it to adapt to the dynamic regulatory requirements.

Established in 2015 in Denmark, Lunar Way is a fintech that aims to provide digital banking experience through its banking app. In 2018 Lunar Way received the two PSD2-licenses – AISP and PISP and in 2019 the Nordic fintech received a European banking license from the Danish FSA. Lunar joins a family of more than 200 banks that depend upon the FCM product to deliver financial crime detection, allowing for lower review rates, seamless transactions, and lower costs.